Amount given 3 years back, stamp paper to be executed?
dvarunh
(Querist) 23 September 2015
This query is : Resolved
sir,
i have given a sum of rs 20 lakhs to a person 3 years back at 2 rs interest.till today he didnt pay interest or principal ,today i want to have register this on a stamp paper.
1.on which demnominaton 20,50,100 rs stamp paper should i write this and get his signs?writing
2. whose signs i should take along with his as witness?
3.do i have get this stamp paper registered with a lawyer.
4.how many years is this stamp paper valid?
adv. rajeev ( rajoo )
(Expert) 23 September 2015
If you are not regd., money lender, you cannot charge interest,if you charged it amounts to illegal money lending.
If you want to take acknowledgement for that you need not to go for stamp paper, sign of the loanee n wittnessess on the white paper is more than sufficient. Moreover it is already time barred debt, so very cleverly take the signature of the loanee
dvarunh
(Querist) 23 September 2015
who is a witness sir, is it should be compulsory borrower relatives? or my knowm people can also sign it.
dvarunh
(Querist) 23 September 2015
i want to go through a loan agreement on 200 rs stamp clear mentioning principal and interest amount clearly and he also agreeing that he had taken amount 3 years back., can i go through this?
dvarunh
(Querist) 23 September 2015
can a loan agreement be valid for how many years?
SAINATH DEVALLA
(Expert) 24 September 2015
Better take the assistance of a local lawyer and get the things done in his presence.
Advocate. Arunagiri
(Expert) 24 September 2015
Your loan is timer barred, because it was given three years back and no interest is paid for these three years.
Rajendra K Goyal
(Expert) 28 September 2015
Repeated query:
http://www.lawyersclubindia.com/experts/200-rs-or-100-rs-stamp-paper--561891.asp
SAINATH DEVALLA
(Expert) 29 September 2015
The querist is silent since 5 days.
